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U.S. crop reports lift grains

Rally sparks fears of inflation, adding boost to gold, cotton

By

Tom PolansekThe Wall Street Journal Asia

Updated Jan. 14, 2008 12:01 a.m. ET

Bullish crop reports issued Friday by the U.S. Agriculture Department reverberated from grains markets into other commodities as the high prices sparked concerns about growing inflationary pressures, analysts said.

U.S. grain and soybean futures directly affected by the reports rallied on smaller-than-expected estimates for corn supplies and total winter wheat plantings.